Loehmann’s department store gets new life after – Business News
The iconic Loehmann’s model will briefly reemerge after going belly-up more than a decade in the past — giving customers a probability to scoop up some designer duds at discount basement costs, The Post has discovered.
A pop-up model of the century-old department store, which went bankrupt in 2013, will open Aug. 21 on Long Island, its new proprietor stated.
Rival discounter Century 21 quietly acquired the model in 2020, as The Post reported, and is relaunching it in a sequence of pop-up shops, beginning on the Tanger Outlets at Deer Park.
Loehmann’s closed its doorways seemingly for ceaselessly in 2014. Penske Media through Getty Images
The initial two-week warehouse sale can even embody Loehmann’s well-known “Back Room,” which in its heyday featured deeply marked-down luxurious manufacturers from Michael Kors, Calvin Klein, Ralph Lauren, Fendi, Oscar de la Renta, Marc Jacobs amongst others.
“The hope is that 11 years later that there is some nostalgia for the brand and people fondly look back,” Larry Mentzer, Century 21’s chief working officer, stated in an unique interview with The Post.
Mentzer declined to disclose which manufacturers shall be obtainable within the Back Room, as most designers don’t wish to be related to discounting.
There shall be a combine of “well-known European designer labels, household names and emerging brands,” he stated.
Another pop-up is deliberate for Florida this 12 months and one is coming to the Big Apple subsequent 12 months, Mentzer stated.
“We think there is real value in the brand going forward,” Mentzer stated, including, “off-price is the hottest sector in retail right now.”
At its peak, Loehmann’s operated some 100 shops within the Nineties. Astrid Stawiarz/NY Post
The Gindi household, which owns Century 21, scooped up the Loehmann’s model for about $300,000 after the chain was liquidated following its third chapter submitting, sources informed The Post.
The New York-based company, which itself filed for chapter in 2020 earlier than reemering in 2022, is one of the final low cost department shops that focuses on designer labels.
It has oulasted Filine’s Basement, Daffy’s and Syms, which all shuttered more than a decade in the past, squeezed out by bigger, higher funded opponents like TJ Maxx and Ross Stores.
Century 21 acquired Loehmann’s in 2000 for about $300,000, in keeping with a source. Robert Miller
At its peak, Loehmann’s operated about 100 shops throughout the nation within the Nineties, whereas Century 21 had 13 shops largely within the New York metro space.
Now, it operates only one at its flagship location in decrease Manhattan.
